Cloudbreak Resources Ltd.

Cloudbreak Resources Ltd.

November 12, 2010 20:38 ET

Cloudbreak Financing Oversubscribed/Increased for Second Time

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2010) - Cloudbreak Resources Ltd. (TSX VENTURE:CDB)(FRANKFURT:C6K) (the "Company") reported on November 10, 2010 that its private placement announced on October 25, 2010, was oversubscribed and had been increased to $3,238,499.50.

The Company is now pleased to report that it subsequently received outstanding subscriptions for non-flow-through shares to raise an additional $75,000 and has determined to increase the Offering to that level. Accordingly, the private placement will now consist of 7,033,750 non-flow-through shares to raise $2,813,500 and 909,090 flow-through shares to raise $500,000, for a total of 7,942,840 shares and gross proceeds of $3,313,500. No warrants are being issued as part of the Offering.

The proceeds from the Offering will be used for exploration and development of the Company's assets, acquisition of additional assets and general working capital. All shares issued pursuant to the Offering will be subject to a four month hold period. Finders' fees are payable as previously announced.


Peter Bryant, President & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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